There are two types of "below-the line" deductions:
(1) Itemized deductions, which are allowed to all taxpayers, not just individuals. These include business expenses. interest, taxes, losses, bad debts, depreciation, operating loss carryovers, charitable contributions and start-up expenses, among other things.
(2) Itemized deductions available to individuals only, such as expenses for the production of income, medical and dental expenses, IRA contributions, alimony, and moving expenses.
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